Ransomware Claims Jump in Q1 2023: Marsh
Marsh reports claims were up 77% in Q1 2023 compared with the previous quarter. Resilience reports the same trend. “One possible explanation for the resurgence is that ransomware purveyors based…
What Type of Control is Most Effective in Preventing Successful Cyber Attacks? Marsh Has an Answer
Marsh analyzed its claims data and responses to customer self assessments. The resulting report may surprise some folks… “Automated hardening techniques — by a wide margin — have the greatest…
A Step toward “Skinnier Cyber Insurance?” Marsh Lowers Threshold for Cyber Coverage
For reference, our post on “Skinny Cyber Insurance” for smaller companies with limited cybersecurity resources that need to prove coverage to their supply chain partners. “’The coverage that these companies would…
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Marsh Bullish on Cyber Captives Despite Moderating Cyber Insurance Prices
Marsh notes global cyber pricing rose 28% in Q42022, slowing compared to 53% the prior quarter. But rates and volatility remain high enough to keep providing tailwinds for captive structures,…
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Cyber Re Rates Still Growing, But Not as Fast: Marsh & McLennan
“(T)he cyber rates continued to accelerate at 28%, although that is a deceleration in rate increase in the last quarter we saw 53%,” said Martin South of Marsh & McLennan…
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Cyber Insurance Market Stabilizing As Growth in Premiums Moderates: Marsh
“But after two years of premium increases, it appears rates are starting to moderate, contributing to the sense of cautious optimism about the future of cyber coverage. Attritional losses seem…
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Interesting Cyber Insurance Trends in the UK; Includes Reduced Limits in Key Sectors (Marsh)
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying…
61% of Companies Bought Cyber Insurance, But Why? Read the Marsh/Microsoft Survey
“New research by Marsh and Microsoft identifies 8 key trends that leaders from all departments should align on and prioritize for 2022 and beyond.” Source: The State of Cyber Resilience
Is Cyber Insurance Starting to Resemble Another Major Insurance Category?
“(I)ncreases in deductibles, retention, sublimits, and co-insurance on ransomware payments, are making cyber coverage look more like health insurance.” Useful report from @natlawreview with collection of key cyber insurance metrics…
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Marsh Launches Cyber Risk Analytics Center
“The center will be headed by Managing Director Scott Stransky, a cyber risk and catastrophe modeler. Stransky joined Marsh McLennan earlier this year after more than a decade at AIR…